Vancouver Empty Homes Tax Could Happen Without Province: Mayor

The City of Vancouver should move forward with taxing empty homes in partnership with the B.C. government, recommends a report, but the mayor is ready to go ahead without the province, if necessary.

βWe need a tax on empty homes to encourage the best use of all our housing, and help boost our rental supply at a time when thereβs almost no vacancy and a real crunch on affordability," said Mayor Gregor Robertson in a news release on Wednesday.

He suggested that turning thousands of vacant homes into rental units would be the best way to ease sky-high housing costs in the city.

"Iβve asked for the B.C. governmentβs urgent support to tax empty homes but the city needs to take action with or without other levels of government," said Robertson. βVancouver housing is first and foremost for homes, not a commodity to make money with."

Robertson's stance comes despite the fact that no data proves a common complaint in the city that investors buy homes and then leave them empty.

Nonetheless, there are enough unoccupied properties that draw attention, including a Tumblr blog dedicated to Vancouver's Beautiful Empty Homes.

"... the city needs to take action with or without other levels of government."β Vancouver Mayor Gregor Robertson

On Wednesday, a city report recommended that the mayor ask for the province to support a new "residential vacant" property tax so that the city and other municipalities have the option to set a different rate for empty homes. It set a suggested deadline of Aug. 1 to hear back from the province.

Based on consultations with real estate and housing experts, city staff brought forward two possible ways to implement such a tax:

Using B.C. property assessment information, empty and "under-occupied" investment properties would be taxed annually based on "self-declaration" and response to complaints or audits.

Create a new business tax on homes held as investment properties and not rented to local residents. Tax proceeds would go to affordable housing initiatives.

Hours after Robertson's news conference, Finance Minister Mike de Jong said he's making arrangements to meet with the mayor on Monday to further discuss the suggestion he called thoughtful.

"There's a genuine concern on the part of all of us about the rental vacancy rate and the difficulties people are having locating rental accommodation, certainly in Vancouver," de Jong said in an emailed statement.

Home prices in Vancouver continue to surpass astronomical levels. The benchmark price index for Greater Vancouver was up a stunning 29.7 per cent in May, compared to a year earlier, at $889,100, based on data from the Real Estate Board of Greater Vancouver.

Add to that the dubious distinction of just reaching the worst home affordability at any time in Canadian history at 87.6 per cent. That means that at a median level, Vancouverites have to put 87.6 per cent of their pre-tax income to cover the mortgage payments, property taxes and utilities of an average-priced home.

An online petition that attracted thousands of signatures called for such a restriction in line with Australia, which limits real estate options for foreign buyers to only new homes and apartments. That country also collects and publishes data on property owned by people who are not permanent residents.

"By moving foreign owners out of the market, housing prices will drop," Clark told CBC News at the time, acknowledging it would benefit first-time buyers but not owners who are counting on the equity in their homes.

A single listing that encompasses four strata lots and three homes in total. One of the houses was once the residence of former B.C. Lt.-Gov. Eric Hamber. It's a stunning structure with large rooms for entertaining, wine cellars, an elevator and even a parkade decorated in an art deco style. The home has also been designated a heritage property by the City of Vancouver.

An English mansion that sits on a .78-acre waterfront estate with stunning views of Vancouver's Stanley Park and Vancouver Island. The home has seven bedrooms including a master suite, a sitting room, two guest suites and a housekeeper's suite. There's also a massive entrance hall, as well as a gourmet kitchen, and outdoor swimming pool and a private beach.

Vancouver's posh, west side Shaughnessy neighbourhood is also home to this beauty. It's an 11,000-square-foot mansion with a foyer whose ceiling is 21 feet high. The home also a breakfast nook, even a pantry and wok room. There's an indoor pool, sauna and hot tub, a wine cellar and a living space for a nanny. The garage has enough space for four cars.

The infinity pool. It's the ultimate status symbol for the 21st century aristocrat. And you'll find one at this dazzling West Vancouver home that underwent an extensive renovation between 2004 and 2008. You could talk about its glass walls, its master suite with a water side terrace, the 14-foot marble kitchen island. But the infinity pool is a particularly striking feature, giving waders spectacular views of the ocean. And that's without even mentioning the boat house, which has room enough to fit a 32-foot vessel.

Architect Howard Airey designed this 9,693-sq.-ft. home in Vancouver's affluent Point Grey neighbourhood. Outdoor features include a swimming pool, water fountain and fire pit, and the home itself offers four bedrooms, six full/half bathrooms, and a master suite that has its own deck, fireplace and views of the water and the mountains.

Take a trip over the Rocky Mountains into Calgary and you'll find Kestrel Ridge Farm in their foothills. It's a gorgeous, 160-acre equestrian estate that marks the last area of untouched plateau before you head into the mountains, says a Sotheby's listing.
The main house is a log home, 11,800-sq.-ft. in size, with six bedrooms, six bathrooms and a garage that can fit six vehicles. There's also a indoor swimming pool measuring 15 feet by 30 feet, a greenhouse, an outdoor tennis court, and a 3,700-sq.-ft. guest house. Then, of course, there's the equestrian facility, which has an indoor arena and more than 20 stalls for horses. And that's without even mentioning the riding trails all around the property.

An approximately 24,000-sq.-ft. gated mansion located on a two-acre property located in the Toronto suburb of North York. There's a ballroom and lounge with enough room for 100 people, perfect for holding a soiree worthy of royalty.

Surrey. It's a Vancouver suburb not often recognized for its luxurious homes. But this one's an exception. It's a 2.85-acre estate with a five-bedroom home that has gorgeous views of B.C.'s Gulf Islands. It has a pool, hot tub, sauna and playground all its own.

Surrey. It's a Vancouver suburb not often known for its luxurious homes. But this one's an exception. It's a 2.85-acre estate with a five-bedroom home that has gorgeous views of B.C.'s Gulf Islands. It has a pool, hot tub, sauna and playground all its own.

Surrey. It's a Vancouver suburb not often known for its luxurious homes. But this one's an exception. It's a 2.85-acre estate with a five-bedroom home that has gorgeous views of B.C.'s Gulf Islands. It has a pool, hot tub, sauna and playground all its own.

Surrey. It's a Vancouver suburb not often known for its luxurious homes. But this one's an exception. It's a 2.85-acre estate with a five-bedroom home that has gorgeous views of B.C.'s Gulf Islands. It has a pool, hot tub, sauna and playground all its own.

Surrey. It's a Vancouver suburb not often known for its luxurious homes. But this one's an exception. It's a 2.85-acre estate with a five-bedroom home that has gorgeous views of B.C.'s Gulf Islands. It has a pool, hot tub, sauna and playground all its own.

Surrey. It's a Vancouver suburb not often known for its luxurious homes. But this one's an exception. It's a 2.85-acre estate with a five-bedroom home that has gorgeous views of B.C.'s Gulf Islands. It has a pool, hot tub, sauna and playground all its own.

Surrey. It's a Vancouver suburb not often known for its luxurious homes. But this one's an exception. It's a 2.85-acre estate with a five-bedroom home that has gorgeous views of B.C.'s Gulf Islands. It has a pool, hot tub, sauna and playground all its own.

Surrey. It's a Vancouver suburb not often known for its luxurious homes. But this one's an exception. It's a 2.85-acre estate with a five-bedroom home that has gorgeous views of B.C.'s Gulf Islands. It has a pool, hot tub, sauna and playground all its own.

Architect Marko Simsic designed this innovative home that sits on a 67-acre oceanfront lot. The aim of the design is to blend into the landscape. But this architectural wonder, which won its designer a Lieutenant-Governor's Award in 2008, also comes with a number of terraces, a pool, a boathouse, tennis courts and a guest house.

Home, or art gallery? The wide open spaces of this beauty will leave you asking that very question. The home has 5,350 square feet of living space, with three bedrooms and bathrooms, and it won a 2016 Georgie Award for its design.
But the listing is also being promoted as a "fully buildable lot" where you can plunk down your own design. With spaces like this, it's hard to see why a buyer wouldn't want what's already there.

A Tuscan-style home in Richmond, a suburb just outside Vancouver. Visitors to the property are greeted by a gated entrance, beyond which they'll find fountains and gardens before coming into a foyer that has limestone walls. It sits on an 18.09-acre lot and has koi ponds, a tennis court, a greenhouse, its own barn and a six-car garage.

A Tuscan-style home in Richmond, a suburb just outside Vancouver. Visitors to the property are greeted by a gated entrance, beyond which they'll find fountains and gardens before coming into a foyer that has limestone walls. It sits on an 18.09-acre lot and has koi ponds, a tennis court, a greenhouse, its own barn and a six-car garage.

A Tuscan-style home in Richmond, a suburb just outside Vancouver. Visitors to the property are greeted by a gated entrance, beyond which they'll find fountains and gardens before coming into a foyer that has limestone walls. It sits on an 18.09-acre lot and has koi ponds, a tennis court, a greenhouse, its own barn and a six-car garage.

A Tuscan-style home in Richmond, a suburb just outside Vancouver. Visitors to the property are greeted by a gated entrance, beyond which they'll find fountains and gardens before coming into a foyer that has limestone walls. It sits on an 18.09-acre lot and has koi ponds, a tennis court, a greenhouse, its own barn and a six-car garage.

A Tuscan-style home in Richmond, a suburb just outside Vancouver. Visitors to the property are greeted by a gated entrance, beyond which they'll find fountains and gardens before coming into a foyer that has limestone walls. It sits on an 18.09-acre lot and has koi ponds, a tennis court, a greenhouse, its own barn and a six-car garage.

A Tuscan-style home in Richmond, a suburb just outside Vancouver. Visitors to the property are greeted by a gated entrance, beyond which they'll find fountains and gardens before coming into a foyer that has limestone walls. It sits on an 18.09-acre lot and has koi ponds, a tennis court, a greenhouse, its own barn and a six-car garage.

A Tuscan-style home in Richmond, a suburb just outside Vancouver. Visitors to the property are greeted by a gated entrance, beyond which they'll find fountains and gardens before coming into a foyer that has limestone walls. It sits on an 18.09-acre lot and has koi ponds, a tennis court, a greenhouse, its own barn and a six-car garage.

A Tuscan-style home in Richmond, a suburb just outside Vancouver. Visitors to the property are greeted by a gated entrance, beyond which they'll find fountains and gardens before coming into a foyer that has limestone walls. It sits on an 18.09-acre lot and has koi ponds, a tennis court, a greenhouse, its own barn and a six-car garage.

A Tuscan-style home in Richmond, a suburb just outside Vancouver. Visitors to the property are greeted by a gated entrance, beyond which they'll find fountains and gardens before coming into a foyer that has limestone walls. It sits on an 18.09-acre lot and has koi ponds, a tennis court, a greenhouse, its own barn and a six-car garage.

A Tuscan-style home in Richmond, a suburb just outside Vancouver. Visitors to the property are greeted by a gated entrance, beyond which they'll find fountains and gardens before coming into a foyer that has limestone walls. It sits on an 18.09-acre lot and has koi ponds, a tennis court, a greenhouse, its own barn and a six-car garage.

A Tudor home in ritzy West Vancouver. This 7,700-sq.-ft. home comes with a 40-foot by 20-foot heated pool and private beach access.